TriCo Bancshares (NASDAQ:TCBK) Plans Quarterly Dividend of $0.36

TriCo Bancshares (NASDAQ:TCBK) announced a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, March 6th will be paid a dividend of 0.36 per share by the financial services provider on Friday, March 20th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, March 6th.

TriCo Bancshares has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. TriCo Bancshares has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TriCo Bancshares to earn $3.67 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 39.2%.

TriCo Bancshares Stock Down 0.1%

Shares of NASDAQ:TCBK opened at $48.30 on Wednesday. TriCo Bancshares has a fifty-two week low of $35.20 and a fifty-two week high of $53.18. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $49.44 and its 200-day simple moving average is $46.87. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 13.02 and a beta of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. TriCo Bancshares had a net margin of 22.56% and a return on equity of 9.53%. The firm had revenue of $109.40 million during the quarter, compared to the consensus estimate of $108.19 million. As a group, equities research analysts predict that TriCo Bancshares will post 3.35 earnings per share for the current year.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBK. Larson Financial Group LLC grew its position in shares of TriCo Bancshares by 337.5% in the third quarter. Larson Financial Group LLC now owns 595 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 459 shares during the last quarter. Danske Bank A S purchased a new stake in TriCo Bancshares in the 4th quarter valued at approximately $28,000. Farther Finance Advisors LLC grew its holdings in TriCo Bancshares by 40.3% during the 4th quarter. Farther Finance Advisors LLC now owns 735 shares of the financial services provider’s stock valued at $35,000 after buying an additional 211 shares during the last quarter. Abound Financial LLC purchased a new position in TriCo Bancshares during the fourth quarter worth $43,000. Finally, State of Alaska Department of Revenue purchased a new position in TriCo Bancshares during the third quarter worth $58,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

About TriCo Bancshares

TriCo Bancshares, Inc is the bank holding company for Tri Counties Bank, a community-oriented financial institution headquartered in Chico, California. Through its wholly owned subsidiary, the company provides a comprehensive range of banking and financial services to individuals, small businesses, and commercial clients. Offering a full suite of deposit accounts, lending solutions and digital banking tools, TriCo Bancshares combines personalized service with modern technology to meet the evolving needs of its customers.

The company’s core products and services include commercial and consumer lending, deposit and cash management solutions, mortgage banking, and agricultural financing.